Price for Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria - 2023

Contents:

1. Price for Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria (CIF) - 2022
2. Price for Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria (FOB) - 2022
3. Imports of Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria
4. Exports of Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria

Price for Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria (CIF) - 2022

The average import price for yachts and other vessels; for pleasure or sports, rowing boats and canoeses stood at $16,873 per unit in 2022, increasing by 32% against the previous year. Over the period under review, the import price, however, showed a slight contraction. The pace of growth was the most pronounced in 2020 an increase of 161% against the previous year. Over the period under review, average import prices hit record highs at $18,832 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($60,292 per unit), while the price for the United Arab Emirates ($2,527 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria (FOB) - 2022

The average export price for yachts and other vessels; for pleasure or sports, rowing boats and canoeses stood at $238 per unit in 2022, waning by -60% against the previous year. Overall, the export price saw a noticeable downturn. The most prominent rate of growth was recorded in 2014 an increase of 1,577%. As a result, the export price reached the peak level of $5,391 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($907 per unit), while the average price for exports to the UK ($1 per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+60.3%), while the prices for the other major destinations experienced a decline.

Imports of Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria

In 2022, purchases abroad of yachts and other vessels; for pleasure or sports, rowing boats and canoeses decreased by -60.7% to 270 units, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a significant decline. The pace of growth was the most pronounced in 2020 when imports increased by 650% against the previous year. As a result, imports reached the peak of 4.6K units. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of yachts and other vessels; for pleasure or sports, rowing boats and canoeses declined notably to $4.6M in 2022. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,857%. As a result, imports reached the peak of $75M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes to Nigeria in 2022:

1. Vietnam (101.0 units)
2. Malaysia (65.0 units)
3. China (36.0 units)
4. United Arab Emirates (27.0 units)
5. United Kingdom (7.0 units)
6. United States (6.0 units)
7. France (3.0 units)

Exports of Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes in Nigeria

In 2022, after three years of growth, there was significant decline in shipments abroad of yachts and other vessels; for pleasure or sports, rowing boats and canoeses, when their volume decreased by -77.1% to 8 units. In general, exports, however, saw temperate growth. The growth pace was the most rapid in 2020 when exports increased by 243%. Over the period under review, the exports of hit record highs at 35 units in 2021, and then declined rapidly in the following year.

In value terms, exports of yachts and other vessels; for pleasure or sports, rowing boats and canoeses fell rapidly to $1.9K in 2022. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 3,680% against the previous year. Over the period under review, the exports of attained the peak figure at $21K in 2021, and then dropped significantly in the following year.

Top Export Markets for Yachts and Other Vessels; for Pleasure or Sports, Rowing Boats and Canoes from Nigeria in 2022:

1. Netherlands (2.0 units)
2. Ghana (1.0 units)
3. Lebanon (1.0 units)
4. France (1.0 units)
5. United Kingdom (1.0 units)
6. Gabon (1.0 units)
7. Benin (1.0 units)

Source: IndexBox Market Intelligence Platform